DRAGON RISE GP (06829) announced on August 27, 2026, that its wholly-owned subsidiary, DRNE Next Mobility Investment Limited, has entered into a blockchain agency agreement with a comprehensive blockchain service provider. The collaboration focuses on issuing private tokenized limited recourse notes backed by physical assets on the Ethereum and Solana blockchains.
Under the agreement, DRNE Next Mobility has appointed the blockchain service provider as the token registrar for guaranteed total return limited recourse tokenized notes. The service provider will maintain the token register, mint and issue the tokenized notes, record ownership transfers in the register, and handle all other administrative and operational matters related to events during the validity period of the tokenized notes. The service provider is a limited company incorporated in Hong Kong, with its parent being an AI-driven global wealth technology provider.
The physical asset project is structured with DRNE Next Mobility as the issuer, while the company provides a guarantee for the issuance of the tokenized notes. The reserved quota amounts to HK$100 million, with the initial issuance capped at HK$30 million. The tokenized notes are backed by a fleet of battery-swap electric taxis and the actual revenue streams generated from battery-swap infrastructure. These assets will be converted into standardized, fractionalized, and traceable digital assets on the blockchain, with additional tranches potentially issued as market conditions and investor demand evolve.
The assets will utilize the blockchain service provider's infrastructure to be mirrored and tokenized on the blockchain, subject to applicable regulations. A portion of the tokenized assets is planned to be distributed to qualified professional investors in a compliant manner to facilitate issuance and subscription. The group will continue to closely monitor regulatory developments in Hong Kong concerning tokenized securities and physical asset issuances. Under current regulations, Hong Kong-based investors must qualify as "professional investors" as defined under the Securities and Futures Ordinance (Chapter 571), with a minimum subscription amount of HK$400,000.
The physical asset project offers investors a two-year lock-up period, with a target yield comprising a fixed interest component of 4% per annum and a performance-linked interest component of up to 6% per annum. The company provides a full guarantee on principal and fixed interest for the initial tranche of tokenized note issuance to strengthen investor protection.
The board believes that tokenizing income-generating assets such as the battery-swap electric taxi fleet addresses several structural challenges inherent in traditional infrastructure financing, including limited liquidity, information asymmetry, and high entry barriers. Fractional ownership enables professional investors to participate in previously illiquid asset classes with lower entry thresholds, while blockchain-based operational data recording provides investors with enhanced cash flow visibility and auditability, reducing information asymmetry. The tokenized structure, with potential for future stablecoin integration, also simplifies cross-border settlement and reduces currency conversion friction.
Furthermore, by securitizing future revenue streams through this physical asset framework, the group can more efficiently recycle capital and accelerate the deployment of additional electric commercial vehicles and battery-swap infrastructure, achieving scalable asset-light expansion. This move further consolidates the group's commitment to sustainable transportation and carbon reduction goals, aligning with its broader strategy to build and promote a battery-swap ecosystem for electric commercial vehicles.
The group will continue to collaborate with more industry partners to establish an open, compliant, and mutually beneficial tokenization model, leveraging digital technology to strengthen the resilience of physical industries and create sustainable value for investors in Hong Kong and globally. The board is confident that this initiative will not only enhance the group's financial flexibility but also set a standard for the tokenization of green infrastructure assets, offering investors safe, transparent, and yield-attractive digital asset opportunities.